Overview

• Spot gold traded above $4,000 per ounce for the first time, with intraday quotes reported up to about $4,050 on Oct. 8.
• The surge leaves gold up roughly 50% since late 2024, putting it on track for the strongest annual rise since 1979.
• Market commentary cites the U.S. government shutdown, political strains in France and Japan, a softer dollar and expectations of Federal Reserve rate cuts as key drivers of demand.
• Sustained central‑bank purchases and renewed interest in gold‑backed ETFs continue to support prices despite elevated levels.
• Bitcoin notched a record near $125,900 after a record $5.95 billion weekly inflow to crypto funds, including over $3.2 billion to U.S. spot Bitcoin ETFs, while Bank of America flags technical overbought signals and the risk of a near‑term gold correction.